Scarcity is how common or rare a specific resource or service is. This is one of the largest driving points in price and availability.
Products and services that are scarce, yet in high demand will fetch a high price. In contrast, a scarce product or service that has low demand will fetch a low price.As scarcity and demand increase, price goes up. As scarcity and demand decrease, price goes down.
To conclude, scarcity is one of the most influential variables in economics.
Answer: D) 1817
David Ricardo development the theory of comparative cost in 1817 to explain why countries engaged in international trade.
Firstly, Loan A has a lower interest rate (0.25% lower) and therefore the interest payed is lower ($209.49 cheaper) and of course the total paid is lower for Loan A.
The benefit of Loan B is the term of payment is longer and the monthly repayments are lower. This could be good for someone working minimum wage due to having a low income.
In conclusion, I think Loan A would be better due to the interest being lower which is always a plus for loans.
Answer:
The answer is:
Amanda should record the wasted birdseeds (inventory loss) by adjusting the inventory account.
A company's inventory account may be incorrect and show errors due to waste or theft. When a loss in inventory is detected, the inventory account should be adjusted to record all the losses due to waste or theft.
